It is strange that today's press release didn't update us on the CEO search. After all, it has been seven months since the previous CEO resigned. I wonder if Mario Gabelli is going to appoint his own man as CEO?
I feel comfortable buying at $8.50- I don't expect to grab the exact bottom anyways. At $8.50, I believe the stock presents way more reward then risk. Lower expectations are a good thing...they make it easier to surpass them. Under promise and over deliver. I love to buy wholesale and sell retail. At $8.50 you can be assured you are buying wholesale. After all. wall street is nothing more than a big merchandising game.
the 13d says they have a 18.50% ownership stake. This news ( Gamco's board nominations) will undoubtly be positive for the share price.
A new Seeking Alpha article indicates PBY will beat expectations when they report 4th quarter results in one week. Have they ever beaten expectations?
Congratulations to Bridgford Foods for delivering a very solid first quarter earnings report. Big increases in sales, earnings and cash holdings, is what it is all about.
daninfw04: expectations are that PBY will deliver 4th q results of $507 million in revenues and 3 cents of earnings. What are you thinking they will come up with? perhaps $490 m and a 6 cent loss or are you more optimistic?
daninfw04: heck, I am going to just stop trying to invent the wheel, and simply replicate your ideas. After all, you have proven to be one of the brightest minds on Wall Street. What are your top picks, and I'll just buy them.
daninfwo4: you were right again! I'll be buying at $9! That seems like a good deal. It usually always drops just after earnings, but then quickly recovers. That's if Gabelli, is still a buyer.
especially at the big qty's you acquire...what's the biggest PBY position you have ever taken? 100,000 shares?
interestingly enough, it never rose in after hours, so it could be a non event. Why isn't GAMcO's interests the same as shareholders? don't they want the stock price to go up fast and far too. I'm a shareholder and that's exactly what I desire.
Now that GAMCO is trying to put 5 directors on the board, has your opinion changed? If they are successful in doing so, they will effectively have control of the company. One of the nominees is a Bear Sterns guy who is a M&A specialist. Do you think they will attempt to dismantle the company and sell it piece meal. Sometimes the pieces are worth more than the whole. I am sure this development will cease the CEO search and Gabelli will appoint his own guy. Do you think this is a overall positive event for the stock price?
hmmmm. If a possible takeout is at $12, and the downside is in the low $8's, then I would think the stock offers more upside than downside at this juncture ( about $1 of downside to $3 of upside). Not sure why you claim the stock has more downside than upside, if the scenario you presented has validity.
danin: are you buying yet or are you still waiting for a pullback to the mid $8's? for them to cancel the deal and pay $50 million, had to result in a absolutely horrendous finding, to say the least-- Why should I reinvent the wheel, if I can just replicate your brilliance? My motto, follow the smart money.